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Huge Corruption In SBI Valuers Empanelment Mumbai.

जनता के सेवक ही धोखाधड़ी में शामिल
घूस लेकर की जाती है valuers appointment 

Mumbai: Complaint has been registered at State Bank Of India for irregularities in valuers empanelment for immovable and Plant & Machinery segment. The SBI Valuation department lead by Kaushal Sharma and others are not publishing empanel list on website. In RTI also they deny information. The branches are also not having valuers empanel list. The empanelment process is full of corruption and only body corporates are getting SBI empanel letters. Most of the work is assigned to body corporates and dear ones of Kaushal Sharma team. There is no balance in assignment of job to every valuer. The other banks publish their official valuers list on website ,but SBI Bandra Office hide such list from public to favour illegal valuers . Many illegal valuers are doing valuation in SBI and later their loans get laps. These illegal valuers issue valuation report as per client requirement and earn huge commission. As per law if any valuer get employment then his license get suspended by default. So many valuers are directors ie employees of company and doing valuation in the name of company. Companies are not allowed to valuation business as per section 34 AC of Wealth tax act.1957. Till now IBBI also not registered any company. 
To cover up all this irregularities the SBI donot publish any list on his website . As per sources the few valuation team members are getting huge commission for selection and job assignment. The few banch managers of SBI recommends specific valuers to customers after taking bribe. So  there is no balance in distribution of work among valuers.  Recently a PIL has been filed against Yardi Prabhu valuers and consultant Pvt LTD at Bombay High Court for such irregularities. SBI and 36 others respondents has been added for such illegal valuation. Soon matter will be listed before court.

Call for more news to get published 9702859636

Comments

  1. In fact Empanelling is not at all necessary. When you have a professional body of Government Valuers available why such elimination by making a Panel?
    Also the Fees payable need not be through banks. The prescribed fees of valuer as fixed by the GOI must be paid NY the borrower to the valuer. Banks need only to advise the party to submit valuation if his property and the loan to be dispersed according to the capability and Credibility of the borrower! Issue of loan amount or its non return by the borrower is bank's responsibility.The valuer will give a report based on the Norms and Rules of valuation of priority prevailing on the date of Valuation.

    ReplyDelete
    Replies
    1. Everything rightly said..
      But who will Bell the cat...?
      GO AHEAD.... AND FIGHT FOR RIGHTS....

      Delete
    2. I fully agree A government regesterd Valuer under section 34AB and or IBBI is sufficient All financial organization should follow this

      Delete
    3. " ONE NATION, ONE REGISTRATION " This should be approach at all levels. All bodies want their Panels and try to exploit opportiunities of Corruption.

      Central government should look into it.

      Delete
  2. Yes, it is true. Even though, in Carlos branches of JHARKHAND and BIHAR, the valuation works of land, building are alloting to the values of mechanical stream,with out considering the values qualification.

    ReplyDelete
  3. Send email with evidence at indiartinews@outlook.com. Call at 9702859636 .We will fight.

    ReplyDelete
  4. The valuation profession is very critical component of our economy but do not have matching required act and rules in line with international practices and Indian conditions. In India the registration is being done under Wealth Tax rules but MCA has also started parallel registration of Valuers which is time tested. Multi agency registration will further multiply problems and adversely affect valuation profession effectively. The profession need to be done under act of parliament with die regard to WTax rules and present practices with due regard to present Senior and other practicing Valuers. Ajay Singh

    ReplyDelete
  5. It is very much difficult to provide valuation services to State Bank of india , Even in the state of Jammu & Kashmir , things are given to valuers who fulfills the desires of SBI Officers. If u tell them some discrepancy in the collateral security , they immediately tell the customer to go to another valuer and get the report of their own wishes.
    I can say with challenge that the Officials getting pay from SBI even don't work for the institution. In North India , there is no list of Valuers published from last so many months , reasons best known at the helm of affairs of LHO Chandigarh.

    ReplyDelete
  6. I am applied empanelment for land and buliding in SBI last three years
    So,many called to mr.sharma
    He said in hindi language 'Abb Dukan
    Band ho gi hyee...Means?
    Many times called LHO office not responding recently

    ReplyDelete
  7. It's very difficult to enter in to empanelment.

    ReplyDelete
  8. It has also find valuation of Mines and quarries done by valuer for land, plant and machineries .

    ReplyDelete
  9. What all Valuers doing.
    Simple keeping quiet. And saying this is like that,& that is like this. allof you come to gether. One
    Match stick can be break with with finger. Suppose a bundle of stick,
    It will have great strength.
    So come to close every body like matchsticks, your strength will be reconized.
    So, let us have good association.

    Bheem Rao Jaligama.
    Hyd
    9246502056.
    We are starting a new association
    To fight for valuer.

    ReplyDelete
  10. We all should not accept any illegal activities who ever he may be
    We should strongly oppose such activities for the prestige and image of the community.

    ReplyDelete
  11. All banks should have list of bank valuers who are qualified to value of the properties or else banks interest will be at stake.

    ReplyDelete
  12. Corruption is in our DNA, Gone are the days when valuers were respectfully invited for empanelment. It's so sad to see the moral degradation in authorities dealing in empanelment and illegal valuer companies promoting such corruption. It must be dealt with heavy hand. Kudos to those who have openly challenged the corrupt system

    ReplyDelete
  13. Corruption and high headedness of Kaushal Sharma is in the public domain for so long. He must be immediately removed from such responsibility and a detailed enquiry should be conducted.

    ReplyDelete
  14. Even I am applied 3 times and visit lho thrice but of no use.
    All documents are there, but nothing or who is stopping from empanelment,
    Really God knows.
    Even is the same case with you
    I was having empanelment but this time though all criteria was ful filled, no empanelment,
    God is great.

    ReplyDelete
  15. Wheen Registration U/34-AB is in the name of a Person,all the banks are asking for getting Valuation Reports both for Immovablee & Movale Assets from one person in the name of some company,The empanelment must be in the name of person & not in the name of company.There is rampant CROSS-CERTIFICATION by valuers especially by valuers fo immovable assets.

    ReplyDelete
  16. In my opinion, IBBI is the controlling body for all the Registeted valuers which IBBI is registering after passing a tough examn, the question of empanelment does not arise. All banks and Financial Institutions should follow the list of Registered Valuers shown at IBBI website. Banks will empanel valuers and put pressure on valuers to get their work done which will lead to corrupt practices. Valuers should be free from the clutches of Banks/Financial Institutions and act freely that what IBBI is doing to weed out the corrupt practices of NPA

    ReplyDelete
    Replies
    1. IBBI is NOT the controlling body of valuers in India. It is at the most a controlling body of values registered by it under Companies' Act. Valuers registered under section 34-AB are not controlled by IBBI.

      Delete
    2. I have twisted FM regarding SBI empanelment done with biased unilateral way. Also requested to check profile of Mr Kaushal Sharma and other culprit involved in the big scam .he has collected huge money for empanelment. some values travel by air to brieve to Mr Sharma few years back

      Delete

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